BTQ Technologies has released version 0.3.0 of its Bitcoin Quantum testnet. The key feature is the first working implementation of BIP-360, a P2MR standard designed to protect transactions from quantum computer hacks.
Although BIP-360 is included in the official Bitcoin improvement proposals repository, development on it in the Bitcoin Core client is minimal. BTQ has outpaced the main network by turning a theoretical proposal into functional code.
What's New in This Update
BIP-360 addresses a vulnerability in Taproot that exposes public keys on the blockchain, making them susceptible to Shor's algorithm on quantum computers.
The new P2MR output type allows the use of Taproot scripts (necessary for Lightning Network, BitVM, and Ark) while eliminating the ability to spend along the key path. Instead, the system records commitments in the root of a Merkle tree without using a private key. The update also activates post-quantum Dilithium signatures, a standard approved by NIST.
Infrastructure and Future Plans
The developers have introduced a fully functional CLI wallet, allowing users to create, sign, and send P2MR transactions on the testnet.
BTQ Technologies shared some testnet activity metrics:
- Over 50 miners have joined the network;
- More than 100,000 blocks have been mined;
- Block time has been reduced to 1 minute to expedite testing.
CEO Olivier Roussi Newton emphasized that the industry cannot afford to wait for a crisis to begin testing. Bitcoin Quantum is designed as a testing ground for security measures before the quantum threat becomes a reality.
The company also revealed monetization plans: launching a mining pool with a 3% fee and accumulating BTQ tokens on its corporate balance sheet.
In March, Alex Thorn, head of research at Galaxy Digital, stated that concerns about quantum computers hacking the first cryptocurrency network are greatly exaggerated.